ING Groep NV Makes New Investment in CAVA Group, Inc. (NYSE:CAVA)

ING Groep NV bought a new stake in CAVA Group, Inc. (NYSE:CAVA) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 143,300 shares of the company’s stock, valued at approximately $17,748,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of CAVA Group by 6.3% during the third quarter. Farther Finance Advisors LLC now owns 1,916 shares of the company’s stock worth $237,000 after acquiring an additional 113 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of CAVA Group by 68.3% in the third quarter. GAMMA Investing LLC now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 125 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CAVA Group by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 39,154 shares of the company’s stock valued at $3,632,000 after purchasing an additional 184 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its position in shares of CAVA Group by 4.2% during the second quarter. Jaffetilchin Investment Partners LLC now owns 6,907 shares of the company’s stock valued at $641,000 after buying an additional 278 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. bought a new stake in CAVA Group during the second quarter worth $28,000. 73.15% of the stock is owned by institutional investors.

Insider Buying and Selling at CAVA Group

In other CAVA Group news, CFO Tricia K. Tolivar sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $125.64, for a total transaction of $628,200.00. Following the transaction, the chief financial officer now directly owns 292,600 shares of the company’s stock, valued at approximately $36,762,264. The trade was a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brett Schulman sold 201,504 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $125.53, for a total transaction of $25,294,797.12. Following the completion of the sale, the chief executive officer now directly owns 702,590 shares of the company’s stock, valued at approximately $88,196,122.70. This represents a 22.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 304,994 shares of company stock valued at $38,310,084 in the last three months. Company insiders own 12.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CAVA shares. Argus upped their target price on shares of CAVA Group from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Citigroup increased their price objective on shares of CAVA Group from $140.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group upped their target price on CAVA Group from $94.00 to $117.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays lifted their price target on CAVA Group from $113.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on CAVA Group from $90.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.14.

CAVA Group Stock Performance

Shares of CAVA opened at $138.29 on Friday. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 300.63 and a beta of 3.23. CAVA Group, Inc. has a 52-week low of $31.47 and a 52-week high of $172.43. The stock’s 50-day simple moving average is $130.75 and its 200 day simple moving average is $103.50.

CAVA Group (NYSE:CAVA) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04. The company had revenue of $243.82 million during the quarter, compared to analyst estimates of $233.05 million. CAVA Group had a net margin of 5.88% and a return on equity of 9.23%. CAVA Group’s revenue was up 38.9% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. On average, research analysts forecast that CAVA Group, Inc. will post 0.46 earnings per share for the current fiscal year.

CAVA Group Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.